Global air cargo tonnages down 10% in April: WorldACD

Rates are currently 36% below their levels compared to last year at an average of $2.58/kg

Global air cargo tonnages down 10% in April: WorldACD

(Credit: Antonov Airlines)

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Preliminary data on global tonnages indicate a decrease of 10 percent in April 2023 compared to the previous year, continuing the trend in the first quarter (-11 percent year-on-year), according to data from WorldACD.

"Following an upswing in chargeable weight in the third full week of April, and a continuing slow slide in worldwide average rates since February, figures for week 17 (April 24-30) indicate a stabilisation in tonnages and a slight increase in average global air cargo prices, week on week – based on the more than 400,000 weekly transactions covered by WorldACD’s data."

Most notable are the double-digit percent decreases in year-on-year tonnages ex-North America (-20 percent), ex-Africa (-16 percent) and ex-Middle East & South Asia (-15 percent).

"Overall capacity increased 15 percent compared with the previous year with double-digit percentage increases from all regions – except from North America (+8 percent), and Central & South America (+7 percent). The most-notable increases were ex-Asia Pacific (+36 percent), ex-Africa (+14 percent) and ex-Europe (+14 percent).

"Comparing weeks 16 and 17 with the preceding two weeks (2Wo2W), overall tonnages increased two percent versus their combined total in weeks 14 and 15, and average worldwide rates declined one percent while capacity increased two percent."

Rates are currently 36 percent below their levels this time last year at an average of $2.58 per kilo "despite the effects of higher fuel surcharges, although they remain significantly above pre-Covid levels."

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